Managing and Running a Small Business

MANAGING AND RUNNING
A SMALL BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Key consideration for small business while planning and allocation of resources .....................3
Customer relationship management for small business...............................................................5
Transnational development of small business ............................................................................6
Uppsala Internationalisation model ............................................................................................7
Cash flow forcasting ...................................................................................................................7
Break Even Analysis....................................................................................................................8
Key financial statement of the company .....................................................................................9
key legislation and regulations that have implications on small businesses..............................10
CONCLUSION .............................................................................................................................10
REFERENCES................................................................................................................................1

INTRODUCTION
Management of any small business refers to the process of coordinating and positioning
all the aspects of a small business, it can be management of budget, employees, suppliers or
managing the daily activities (Antcliff, Lupton and Atkinson, 2020). The managing of small
business is done to assure that the things are going in productive way and to achieve the
favourable success. There are different consideration for small business's owner should know for
the success of the enterprise. The customer relationship in context of small business is the
manager uses to focuses to improve the customer satisfaction. Nisa retail limited is a retail of
grocery in United kingdom owned by different members. This report will evaluate the
consideration of small business's, their planing to achieve the organizational goals (Panfilova and
et. al., 2020). The tools and techniques to structure a plan and to allocate the resources with its
importance will be discussed. Further, the customer relationship process of small business's with
its elements will also determined and the way that small business uses to build transnationally to
find the benefits and disadvantages will be explained.
MAIN BODY
Key consideration for small business while planning and allocation of resources
While planning and allocating the scarce resources of Nisa retail limited, the managers have to
keep various consideration in mind so that they plan its productive towards the company end
goal and can optimum utilization of its resources (Farrell And et. al., 2020). The consideration
helps the manager to sustain in the market and to expand in the competitive market.
Help to determine the scope of task: The managers of Nisa have different projects that have
different time periods to complete them, so they have to define the particular scope for the
company before allocating the resources of company. The scope of the task explains the
requirements of resources that are needed to accomplish the task (Guha, Harrigan and Soutar,
2018).
Identification of resources: As the managers of the project now know the scope of the task and
the activities that has to be performed to achieve them, the managers of Nisa identify the
required resources so that they can make an effective planning to allocate the resource and use

them very efficiently. The achievement of task needs finance, human resource, machinery and
other equipment's that are identified by Nisa so that objective gets achieved.
Evaluation of human resources: The evaluation of human resources is also done before
allocation of any resources. The manager directs the human resources to manage the employees
with their role and responsibilities in the organization. The human resource of Nisa identifies the
needs of types of employees that are required by company to achieve the aim and objectives of
the company. The number of employees, their individual skill to perform the job all things are
checked and then plans are made.
Track time: The managers of Nisa have to track the time of work completion of the employees
who are working for the company. It is manager's duty to accomplish the task in allocated time
period. So to identify this the leaders and managers regularly track the team's workload. They
use different effective tools that will help to collect the data.
Tools and techniques used in plan and allocation of resources
There are different tools which are used to develop a good plan and also assist in allocating the
resources of Nisa's.
SWOT analysis tools help the company to structure the plan that is useful for the company.
With the help of this tool the company can find the threats and weakness of the company so that
the managers makes that plans which avoids loss of any untapped potential (Dessi and Floris,
2017). It also helps to use the resources so that there is no wastage and all the resources are
optimally utilized.
Risk mapping is another tool that helps the company in a way by providing necessary
information regarding the causes of risk to Nisa. With this tool the company can develop a plan
that is more effective in nature and that uses its resources very effectively.
Importance of tools and techniques: The methods and process have various benefits to the
company as the allocation of resources is very essential for Nisa retail limited. The tools allow
planning for implementation to achieve the organizational goal and an efficient use of resource
also improves the overall performance.